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APi Group APG Specialty Services — Segment operating expenses

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Other financials

Income statement

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Revenue$2.0B+15.3%
Gross profit$620.0M+14.4%
Operating income$103.0M+22.6%
Net income$57.0M+62.9%
EPS (diluted)$0.12+71.4%

Balance sheet

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Cash & equivalents$645.0M+39.9%
Total debt$2.8B+0.2%
Total equity$3.5B+16.9%
Total assets$9.0B+10.7%

Cash flow

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Operating cash flow$85.0M+37.1%
CapEx$18.0M+50.0%
Free cash flow$67.0M+34.0%

Valuation

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Market cap$17.85B+24.2%
Enterprise value$19.96B+19.6%
P/E55.1×-2.8×
P/S2.2×+0.2×

Profitability

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Gross margin31.4%+0.2pp
Operating margin7%+0.5pp
Net margin4%+0.6pp
FCF margin8.3%-0.1pp

Returns & leverage

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Return on equity10%+0.9pp
Debt / equity0.8×-0.1×
Current ratio1.4×0.0×

Where this comes from

Reported directly by APi Group in its filing.

Tagged under the XBRL concept us-gaap:OperatingExpenses.

The official record: APi Group’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is APi Group's specialty services — segment operating expenses?
APi Group (APG) reported specialty services — segment operating expenses of $67M in Q1 2026.
How has APi Group's specialty services — segment operating expenses changed year-over-year?
APi Group's specialty services — segment operating expenses increased by 8.1% year-over-year, from $62M to $67M.
What is the long-term trend for APi Group's specialty services — segment operating expenses?
Over 3 years (2022 to 2025), APi Group's specialty services — segment operating expenses has grown at a 14.8% compound annual growth rate (CAGR), from $171M to $259M.
What does specialty services — segment operating expenses mean?
Represents the indirect costs required to manage and support the Specialty Services segment, including administrative, sales, and general overhead. These expenses are distinct from direct costs of revenue and reflect the operational burden of running the business unit.